Becoming a Team Member at Formet means joining a company offering competitive wages and benefits, employee recognition programs, as well as industry training, internal transfer and promotion opportunities. Team Members take pride producing high-quality automotive parts that help our customers make safe, efficient vehicles.
Formet is one of the largest manufacturing employers in Southwestern Ontario producing body and chassis components for assembly plants across North America. Our 1.1 million square foot facility features industry-leading hydroforming, roll-forming, hot-stamping, robotic assembly and post-assembly coating processes. At Formet, we take care of each other and live by the motto "One Team. One Formet."
This position is responsible for tracking, recording and preparation of the Divisions financial status.
- Perform all duties and promote themselves in a manner that reflects Formet Expectations and Formet's Visions/Values through Magna's Employee Charter.
- Follow and abide by all government, Legal, Magna and Formet rules and regulations.
- Contribute to continuous improvement and cost reduction activities.
- Safeguard all financial/personnel documents and keep all financial/personnel matters private and confidential.
- Develop and maintain good procedures and systems for all required financial tracking.
- Protect the assets of the company by continual review and awareness of internal control issues, with appropriate recommendations for improvements.
- Ensure that all applicable general ledger accounts are reconciled / analyzed to a level acceptable to both internal and external audit tests.
- Monitor and forecast weekly cash flow, generating required internal cash flow reports.
- Maintain accounts receivable records.
- Monitor accounts receivable, ensuring that any overdue amounts are collected on a timely basis.
- Issue manual invoices and debit memos as required.
- Set up and maintain production and service sales prices in SAP.
- Perform retro billing for production and service sales, as required.
- Maintain general ledger and accounts receivable sub ledger master records in SAP.
- Maintain foreign exchange rates in SAP.
- Perform bank and petty cash reconciliations, and maintain all required banking documentation.
- Prepare any required returns under various tax legislation including HST, R&D tax credits and Stats Canada, etc.
- Issue blanket HST purchase exemption certificates, as required.
- Verify reconciliation of A/R intercompany balances, and resolve intercompany disputes.
- Prepare and reconcile general ledger entries for payroll recording / labour distribution.
- Prepare Ceridian interface to general ledger for payroll recording/ labour distribution for salary/hourly payroll.
- Prepare and reconcile GRRSP files for transmission to Magna/Sun Life.
- Reconcile payroll remittance accounts for EHT, WSIB, and CRA.
- Liaison with internal and external auditors to ensure compliance, perform YE Working Papers.
- Be involved in ongoing continuous improvement efforts, to improve timeliness and accuracy of information reporting, and minimize the use of company resources.
- Prepare overtime reports for management.
- Prepare daily and weekly sales reports for management.
- Analyze cost centre reports for MOH analysis.
- Maintain and reconcile scrap revenue
- Assist in the preparation of the annual business plan and other forecasts as required.
- Perform other duties as designated.
Knowledge and Education
- Post-secondary education in business / finance.
- Those currently holding or working towards a recognized accounting designation will be given preference.
- Minimum 3 years of general accounting experience, preferably in a manufacturing environment.
- Experience with integrated financial / manufacturing software packages.
- Overtime after 44 hours per week.
- 2 weeks of paid vacation (3 weeks after 3 years) + 3 Personal Paid Holidays (PPH) + 2 half days.
- Medical and Dental Coverage.
- Plant wide Incentive Program - based on a number of factors, all members of our team receive an Incentive Bonus, if requirements are met.
- Magna Profit Sharing.
- Matched GRRSP.
- Company paid life insurance and AD&D coverage.
- Educational Assistance program.
- Subsidized Cafeteria.
- Work boot, safety glasses and custom molded earplug allowances.
- Weekly pay via direct deposit.
- Company paid uniforms (if you choose to use).
- Barbecues and Children's Christmas Party.
- Roger's cell phone plan available to Formet Team Members - $40.00 / month
- Employee discounts (new vehicle, amusement parks etc.)
Accommodations for disabilities in relation to the job selection process are available upon request.